Trade

Pakistan: footwear exports decline in value at the start of the year

Sep 21, 2023 Pakistan

According to the Pakistan Bureau of Statistics (PBS), footwear exports from July and August decreased by 12.75% year-on-year, mainly due to the drop recorded in the leather footwear segment

In the first two months of the current fiscal year*, the Asian country exported 3.76 million pairs of shoes, generating 28.26 million US dollars. These figures reflect a decline of 12.75% in value and an increase of 10.66% in volume, on a comparable basis to the same period of fiscal 2022-2023.

The leather footwear segment underperformed in this period, with exports falling by 16.47% in volume to 1.55 million pairs and 15.89% in value to 23.53 million US dollars, as compared to July and August in the same period of last fiscal year.

Concerning the other footwear segment, from July to August, Pakistan exported 2.17 million pairs of shoes, worth 4.15 million US dollars, up by 43.37% in volume and down by 2.44% in value, on a comparable basis to the same period of the previous fiscal year. In the same period, the canvas footwear segment recorded an increase of 38.37% in volume and 264.36% in value year-over-year.

Leather

In the first two months of fiscal 2023-2024, leather manufacturers' exports amounted to 95.06 million US dollars, which indicates a decrease of 8.31%, as compared to the same period of last fiscal year. The data also shows that Pakistan's exports of finished leather generated 19.59 million US dollars, down by 36.89% from a similar period of the prior financial year.

Pakistani Footwear Industry

The World Footwear 2023 Yearbook (more information available HERE) reveals that the Pakistani footwear industry is one of the largest in the world, although primarily geared to the domestic market. Currently, the country ranks as the 46^th exporter worldwide. Statistics also show a contradictory trend in exports for 2022, with a decline in volume but an increase in value.

*Pakistan's fiscal year runs from July to June.

Image Credits: Abuzar Xheikh on Unsplash

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